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Coronavirus alert seems to have dampened the sentiments in the cardamom market, resulting in tepid sales in upcountry markets.
The Holi season is supposed to perk up demand for cardamom but the virus threat seems to have spooked the market, traders said.
Despite a single auction in Puttady on Friday, the market was up by ₹100 kg across all categories. Quality cardamom has fetched an increased price of ₹30-50 in the auctions.
The quantity offered by South Indian Green Gold Cardamom Company was 42.41 tonnes in which 40.9 tonnes was sold. The average price realised was ₹2,728 and some selected lots received the highest price of ₹3,421.
The afternoon auction was cancelled due to poor arrivals.
According to trade analysts Acumen Capital Markets, cardamom April futures fell by 3.9 per cent or ₹103.40 to ₹2,486 when last traded on Friday.
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